Avalanche International, Corp. announced that it has received $2.75 million in funding
April 10, 2019
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Avalanche International, Corp. (OTCPK:AVLP) entered into securities purchase agreement to issue 10% senior secured convertible promissory note for face amount of $2,750,000 on April 11, 2019. The note carries a coupon of 10% per annum and would mature in April 11, 2020. The note is convertible into common shares of the company at a conversion price of $0.85 per share. The face amount is $2,750,000, which is convertible into 3,235,294 shares. The company issued a five-year warrant to purchase 1,617,647 shares with an exercise price of $0.85. The securities are issued pursuant to Section 4(a)(2) under the Securities Act of 1933 and Rule 506 of Regulation D promulgated thereunder.
Avalanche International, Corp. is a holding company, which is focused on the commercialization of Multiplexed Laser Surface Enhancement (MSLE). The Companyâs subsidiaries include MTIX Ltd and Restaurant Capital Group, LLC. MTIX Ltd is an advanced materials and processing technology company. MTIX Ltd has developed an environmentally friendly material synthesis technology for textile applications. Its MLSE technology utilizes a combined high-power pulsed ultraviolet (UV) laser and high frequency electrical discharge plasma. Its Multiplexed Laser Surface Enhancement technology treats both natural and synthetic textiles for a variety of functionalities, including dyeability and printing enhancements, hydrophilicity, hydrophobicity, fire retardancy and anti-microbial properties. RESTAURANT CAPITAL GROUP, LLC provides business capital resources, financial structuring, business development, and marketing and other consultation services to the boutique restaurant and hospitality sectors.
AVALANCHE INTERNATIONAL, CORP. 
